RBA Keeps Interest Rates Steady Amid Inflation Concerns

The Reserve Bank of Australia (RBA) has decided to keep interest rates steady at 4.35% for the second straight meeting, surprising no one as economists and money markets had widely expected this outcome.

The decision was influenced by falling house prices and lower-than-expected inflation, which have slowed down the economy as predicted.

RBA governor Michele Bullock sought to quash expectations that the bank's hiking cycle is over, stating that both headline and underlying inflation remain above the target range of 2-3%.

Bullock warned that if the upside risks to inflation materialize, the board would have no qualms raising interest rates again.